Latest Corporate taxes News

In GOP stronghold, Biden pushes for his infrastructure plan

May. 06, 2021 17:32 PM EDT

LAKE CHARLES, La. (AP) — With a badly aging bridge as his backdrop, President Joe Biden stood in reliably Republican Louisiana on Thursday to pressure GOP lawmakers to support his $2.3 trillion infrastructure plan — and yet express a willingness to compromise on the corporate tax hikes...

Maryland business owner pleads guilty to tax evasion

May. 05, 2021 15:58 PM EDT

BALTIMORE (AP) — The owner of a Maryland physical therapy business is facing up to five years in prison after pleading guilty to not paying more than $258,000 in federal employment taxes. Harshe Shende, 57, of Hanover, pleaded guilty Tuesday to eight counts of failing...

Owner of pot delivery company pleads guilty to tax charges

May. 04, 2021 16:10 PM EDT

BOSTON (AP) — The operator of a marijuana delivery company that failed to pay taxes on its millions of dollars of sales and paid employees in cash pleaded guilty on Tuesday to tax evasion, drug, and money laundering charges, federal prosecutors said. Deana Martin, 53,...

McConnell says GOP open to $600 billion for infrastructure

May. 03, 2021 16:33 PM EDT

LOUISVILLE, Ky. (AP) — Senate Minority Leader Mitch McConnell, R-Ky., said Monday that Republicans are willing to spend up to $600 billion on infrastructure, far less than President Joe Biden is seeking, even as he ruled out supporting a higher corporate tax rate to pay for it. ...

Biden to visit Louisiana to promote infrastructure plan

May. 01, 2021 14:08 PM EDT

NEW ORLEANS (AP) — President Joe Biden plans two stops in Louisiana next week to rally support for his proposed infrastructure plan, the White House said in a statement Saturday. Biden is scheduled to visit New Orleans and Lake Charles on Thursday as part of the Getting...

2 who shielded $3.8M in income in tax evasion case sentenced

Apr. 30, 2021 16:58 PM EDT

PORTLAND, Ore. (AP) — An Oregon City couple who shielded more than $3.8 million in income in a tax evasion case will serve more than three years of probation. Karl Brady, 59, and Laura Brady, 60, failed to pay $1.4 million in taxes from 2008 through 2015, and must pay...

A look at how US corporations manage the tax system

Apr. 30, 2021 12:00 PM EDT

WASHINGTON (AP) — As American corporations have generated an ever-smaller share of federal tax revenue, the burden has fallen more heavily on individuals, through the income tax and the levies that pay for Social Security and Medicare. President Joe Biden has proposed...

Biden's corporate tax plan takes aim at income inequality

Apr. 30, 2021 11:18 AM EDT

WASHINGTON (AP) — From John Kennedy to Ronald Reagan to Donald Trump, American presidents have taken aim at corporate America's tax-avoidance schemes before — and mostly missed. Now, President Joe Biden is training the government’s sights again on the loopholes,...

Nebraska corporate tax cut wins initial OK from lawmakers

Apr. 27, 2021 15:26 PM EDT

OMAHA, Neb. (AP) — A proposed tax cut for corporations and a tax credit for parents grieving a stillborn child won initial approval Tuesday from Nebraska lawmakers, who criticized parts of the package but still gave it strong support. The measure advanced 41-1 in the...

Biden's first 100 days: Where he stands on key promises

Apr. 26, 2021 16:43 PM EDT

WASHINGTON (AP) — As he rounds out his first 100 days in office, President Joe Biden’s focus on reining in the coronavirus during the early months of his administration seems to have paid off: He can check off nearly all his campaign promises centered on the pandemic. ...